Blockstream’s $210M Power Move: Splitting Up Its Mining Biz—You Won’t Believe Who’s CEO

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Last October, Blockstream scored $210 million from Fulgur Ventures. Now they’re making business moves so bold, even Elon Musk might raise an eyebrow—if he has time between tweets. 🚀

Plot Twist: Blockstream Hits “Divide” on Its Calculator

The folks at Blockstream—yes, those crypto whizzes—just dropped the classic “it’s not you, it’s me” and spun off their mining and ASIC divisions. That means both parts get to live out their own TV spinoffs as independent companies. According to this breaking news, they’re basically telling the kids it’s time to move out and pay their own rent.

Quick Blockstream origin story: Co-founded in 2014 by Adam Back (the British computer scientist who literally inspired Satoshi Nakamoto—no pressure, Adam!), the company started out tinkering with sidechains. Fast-forward a decade, they’ve dabbled in just about everything short of cryptocurrency-themed reality TV: software, mining, hardware, and services. (I mean, give it a year.)

Here’s the new world order: Blockstream Mining is off to do its own mining thing, led by freshly minted CEO Chris Cook. Meanwhile, Assaf Gilboa shimmies into the CEO chair of the ASIC division. Promotions for everyone! 🥳 Champagne probably not included.

Adam Back, always the motivational leader, says they’re “building financial rails and infrastructure for Bitcoin’s long-term glow-up.” I guess he skipped “rest and relaxation” on his 2025 bingo card.

Oh, and there’s more. Blockstream is already hinting at a bunch of mysterious products to be unveiled at the Bitcoin Conference in Las Vegas (because where else?). Expect “a more streamlined user experience,” whatever that means. Translation: get ready for more tech stuff that your mom definitely won’t understand. 💻✨

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2025-05-01 13:00